• Sat. Jul 20th, 2024

LG To Introduce TV Software For NFT Trading In The Metaverse 

Jul 20, 2022

Since the inception of NFTs and the metaverse, various firms have been showing great interest. This is because these new technologies provide new ways for businesses to interact with users.

Therefore, firms are planning a wide array of products to launch in the metaverse. Meanwhile, one of the world’s largest electronic manufacturers has joined the frenzy.

The electronics giant LG is the latest company to invest in the metaverse vision. The firm has registered for NFT trademarks for the LG ART LAB. 

Popular trademark attorney Michael Kondoudis announced the application on Twitter on July 19th. According to him, LG had applied on July 14th. 

The company wants to provide various services on the metaverse. They include brokerage for digital tokens and wealth management. 

Additionally, the electronics behemoth wishes to provide TV software. This would allow users to issue and trade crypto and NFTs. 

The firm also wants to offer other payment services per the application filed with the USPTO (the United States Patent and Trademark Office). These include an electronic wallet payment option and software for the electronic transfer of funds.

LG And The NFT Industry 

Before now, the electronics giant had introduced several products for the NFT sector. In May, LG noted that it partnered with Refik Anadol, a famous media artist.

The project aimed at showcasing NFT arts on the OLED TVs. According to LG, the NFTs would use video, audio, and health info.

Meanwhile, LG is not the only electronics company vying for the metaverse. Samsung, another electronics behemoth, had released various NFT items. 

Samsung has created an NFT network for its TV that allows users to trade NFTs with their gadgets. Another firm in the NFT space is eBay. The firm plans to offer NFT trading, NFT exchange, and a retail store for virtual items. 

The USPTO Has Received Over 4,000 Metaverse Applications

Additionally, Mastercard had filed fifteen new patent applications for its “Circles” emblem and the logo. Mastercard also wished to provide e-commerce software, payment, card processing options, and other digital products.

Typically, several international firms in various sectors have filed for trademark applications. The reason for the rush is that the metaverse is a new concept. 

Also, analysts predict the sector will be a billion dollars industry when it finally launches. Hence, firms are securing their spot in the sector to provide services for their users.

Moreover, Finbold reported that the USPTO had received over 4,000 metaverse applications from January 1st to May 31st, 2022. This figure accounts for the applications in America only.

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